Korean card issuers join telecom AI payment consortia

Shinhan Card and Hana Card have joined the SK Telecom consortium for the South Korean government's Everyone's AI project, while BC Card has joined the KT consortium, according to etnews.com. The card issuers are working toward an AI agent payment service scheduled to launch in the first half of next year.

Shinhan Card completed a real AI agent payment transaction with Mastercard through the global mobility platform Hoppa, the first such transaction among Korean card issuers, the report said. BC Card's participation places it on the KT-led side of the project alongside Kakao.

Other issuers are running their own verification work. KB Kookmin Card signed a memorandum of understanding with SY Polaris on AI agent-based payment verification, while NH Nonghyup Card is conducting a proof of concept with AhnLab Blockchain Company. Lotte Card said it is discussing a proof of concept with Mastercard tailored to the Korean market, and Samsung Card has reportedly finished real-transaction testing.

Networks line up partners

Visa has launched its Agentic Ready program with partners, and Lotte Card is set to join it next month. In April, KB Kookmin, Samsung, Shinhan, Kakao Bank, Hana and Hyundai Card took part in that Visa program.

The Everyone's AI project, overseen by the Ministry of Science and ICT, is in beta testing this month without financial services and is scheduled for an official launch in December.